passbook is debited when a cheque is dishonoured true or false
Answers
When a customer deposits a cheque into the bank account, no entry is made in the passbook.
But when the same cheque is dishonoured, the customer has to bear cheque return charges.
Charges are different on cheques issued and cheques received.
Both the defaulter as well as the payee supposed to recieve the payment have to bear cheque dishonour charges.
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It is true when the cheque is dishonored it means that there is no transaction that took place therefore the is no purchase or selling of the goods, the passbook belongs to the owner of the bank account, it is therefore debited because there is no money that was withdrawn from the bank in favor of the buyer since the cheque was dishonored. debiting the entry on the passbook.